Affordable For-Sale Housing Projects

The County Charter only allows the County to use its capital budget to finance an affordable housing project in its Housing Opportunities Trust Fund if the County owns the project. The Charter Amendment would change this requirement by allowing the County to use its capital budget to finance some or all of an affordable housing project if the project meets certain criteria. The County is not required to own or construct the project, but the Howard County Housing Commission or another entity controlled by the Housing Commission must own the project. The project must only have housing units for sale. The County would repay the bonds for the project over a defined time period, typically 20-30 years, and the affordable for-sale housing units must remain affordable for that period.

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